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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.
Mar - 2024 -
18 March
Todd Maiden

Landstar adds 2 new sales roles to the C-suite

Broker Landstar System has added two top sales positions following its CEO transition.

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14 March
Todd Maiden

Yellow asks court to toss claims it failed to give layoff notifications

Yellow filed an objection to numerous WARN Act claims in a Delaware bankruptcy court on Tuesday, saying its shutdown was sudden and it fought until the end to save the company.

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11 March
Todd Maiden

TFI acquires LTL carrier Hercules Forwarding

TFI International has acquired less-than-truckload carrier Hercules Forwarding, which generates over $100 million in revenue each year.

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Todd Maiden

PS Logistics adds Yordy Transport to its flatbed fleet

PS Logistics announced the acquisition of flatbed fleet Yordy Transport on Monday.

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Todd Maiden

February brings slight relief to freight cycle’s ‘long bottom,’ Cass says

Data compiled in the Cass Freight Index shows the freight market continued to hover near cycle lows in February.

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08 March
Todd Maiden

ArcBest again swaps freight for better yields in February

ArcBest reported another big tonnage decline in February as it continues to replace transactional freight with better-priced business from core accounts.

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06 March
Todd Maiden

Descartes sees ‘no end in sight’ for elevated supply chain investments

Supply chain software provider Descartes said it continued to pick up market share on its way to another record quarterly performance.

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Todd Maiden

Truckstop’s Hutto sees Q4 truckload cycle inflection

Truckstop’s Brent Hutto shared his view of the truckload market on Wednesday at FreightWaves’ 3PL Summit.

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05 March
Todd Maiden

XPO provides favorable February update

Less-than-truckload carrier XPO is seeing some of the strongest volume growth in the industry.

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Todd Maiden

Old Dominion Freight Line still waiting for market to turn

Old Dominion Freight Line reported modestly better trends in February compared to January but noted the market remains soft.

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Todd Maiden

Transportation prices up in February but capacity grows faster

Transportation prices grew for a second straight month in February, according to the Logistics Managers’ Index, but couldn’t keep pace with capacity.

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04 March
Todd Maiden

Saia sees 19% jump in February shipments

Less-than-truckload carrier Saia said daily shipments were up 19% in February Monday after the market closed.

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Feb - 2024 -
29 February
Todd Maiden

Forward Air’s Q4 call offers no financial targets after Omni merger

Analysts didn’t get the level of detail they were hoping for Thursday during Forward Air’s first quarterly call since its messy merger with Omni Logistics.

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28 February
Todd Maiden

Investors await Forward Air’s Q4 call for post-merger goal posts

Forward Air’s fourth-quarter results sent shares lower in after-hours trading on Wednesday as investors hope a Thursday call will provide financial targets following a controversial merger.

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27 February
Todd Maiden

Morgan Stanley cuts earnings expectations amid surging insurance costs

Rising insurance costs, which were flagged by most carriers on fourth-quarter calls, present a headwind to earnings, Morgan Stanley said Tuesday.

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Todd Maiden

Knight-Swift names Adam Miller new CEO, Dave Jackson steps down

Knight-Swift Transportation said Tuesday its president and CEO, Dave Jackson, has stepped down and will be replaced internally with CFO Adam Miller.

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22 February
Todd Maiden

J.B. Hunt’s acquisition of Walmart’s intermodal fleet part of long-term agreement

J.B. Hunt said Thursday it will buy Walmart’s intermodal assets and that the two companies entered a multiyear agreement that will bring more shipments to J.B. Hunt’s network.

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21 February
Todd Maiden

Bid season off to bumpy start, trucking heads say

Spot market metrics saw a brief reprieve in January as winter storms sidelined capacity, but carriers say the market will likely stay depressed for at least a couple more months.

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19 February
Todd Maiden

Air Van acquires fellow 3PL G&C Cartage

Third-party logistics provider Air Van announced it acquired G&C Cartage.

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15 February
Todd Maiden

Freight markets still bottoming out, Cass data shows

Cass freight data for January shows continued weakness, but the month included harsher-than-normal winter weather.

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14 February
Todd Maiden

Pension liability claims against Yellow may take months to settle

A Delaware bankruptcy court will decide on March 6 if it will hear pension withdrawal liability litigation against Yellow Corp.

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13 February
Todd Maiden

ArcBest launches autonomous, remote-controlled forklift technology

ArcBest announced Tuesday it can now provide autonomous and remote-controlled forklift technology.

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12 February
Todd Maiden

Kenan Advantage Group acquires plastic resins hauler

Liquid bulk hauler Kenan Advantage Group announced it has entered the dry bulk space with the acquisition of Northern Dry Bulk.

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11 February
Todd Maiden

Next Century’s bid for Yellow back on table

As many as 14,000 former Yellow Teamsters could head back to work if a would-be less-than-truckload startup can persuade creditors to approve their plan.

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08 February
Todd Maiden

Radiant Logistics looks for back-half 2024 inflection

Radiant Logistics reported adjusted earnings ahead of consensus for its fiscal second quarter ended Dec. 31.

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07 February
Todd Maiden

XPO’s shares jump 18% on big Q4

XPO’s fourth quarter exceeded expectations, and the company provided robust pricing guidance for 2024.

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Todd Maiden

XPO beats Q4 estimates

Less-than-truckload carrier XPO reported a better-than-expected close to 2023.

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06 February
Todd Maiden

Werner reports Q4 miss

Werner Enterprises saw another step down in operations during the fourth quarter.

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Todd Maiden

Bankrupt Yellow repays principal, interest on COVID loan

Yellow Corp. said it has paid a total of $851 million to the U.S. Treasury as repayment for a 2020 CARES Act loan.

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Todd Maiden

Weather, tonnage declines offset by cost reductions in ArcBest’s Q4 

ArcBest continued to swap out spot freight for higher-margin shipments from core accounts during the fourth quarter.

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Todd Maiden

Transportation prices grow for first time in 19 months, survey says

The Logistics Managers’ Index for January showed transportation prices are increasing as retailers take on inventory.

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Todd Maiden

Cost control helps ArcBest beat Q4 expectations

ArcBest leveraged cost initiatives to beat the fourth-quarter consensus estimate.

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05 February
Todd Maiden

Forward Air’s January update excludes status of Omni’s leadership team

Forward Air provided an update on January trends but made no mention of December numbers or who is currently in charge of recently acquired Omni Logistics.

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02 February
Todd Maiden

Saia’s $1B growth plan to test LTL’s tight capacity structure

Less-than-truckload carrier Saia will spend roughly 30% of its annual revenue buying terminals and trucks as it looks to take market share again in 2024.

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01 February
Todd Maiden

Auto strike dents Pam Transportation’s Q4

Pam Transportation Services contends with an auto strike in addition to already depressed truckload demand during the fourth quarter.

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Todd Maiden

Landstar says 2 more quarters before recovery

Landstar System said Thursday that a recovery won’t likely occur until summer.

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Todd Maiden

Schneider looking for TL market to shake 600-day downturn

Schneider National reported a fourth-quarter earnings miss and a worse-than-expected 2024 outlook on Thursday.

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Jan - 2024 -
31 January
Todd Maiden

Landstar’s Q4 in line; Q1 outlook disappoints

Truck broker Landstar is seeing normal seasonally weak trends so far in January, which is worse than what analysts were hoping for.

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Todd Maiden

Heartland Express reports another tough quarter

Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.

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Todd Maiden

Old Dominion readies for eventual turnaround

Old Dominion’s fourth quarter was largely in line with analysts’ expectations even as it takes on growth-oriented costs ahead of improvement in demand.

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Todd Maiden

Roadrunner adds more lanes; coverage now includes Toronto, Montreal

Less-than-truckload provider Roadrunner announced the addition of 135 new lanes as well as service to parts of Canada.

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30 January
Todd Maiden

Link Logistics adds 59 properties valued at $2B in 2023

Link Logistics records another big year of final-mile property additions in 2023.

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25 January
Todd Maiden

Forward Air-Omni merger finally closes

Forward Air announced Thursday that it has closed on a merger with Omni Logistics following months of litigation.

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24 January
Todd Maiden

Third-party insurance business sinks Knight-Swift’s Q4

Knight-Swift Transportation reported a big fourth-quarter miss on Thursday, but management has hopes normal seasonality will return by spring.

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22 January
Todd Maiden

Forward Air, Omni reach settlement; merger to close soon

Forward Air announced Monday that its deal with Omni Logistics will close at a slightly reduced amount.

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Todd Maiden

C.H. Robinson says eBOL collaboration now includes 10 major LTL carriers

C.H. Robinson said 10 of the top less-than-truckload carriers on its platform are now using electronic bills of lading.

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18 January
Todd Maiden

Will J.B. Hunt’s insurance-cost laden Q4 be taken in stride by investors?

J.B. Hunt Transport Services’ fourth quarter was weighed down by insurance costs but revealed a couple bright spots at the bottom of the cycle.

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Todd Maiden

Forward Air-Omni merger dustup heads to trial Friday

A Delaware court will determine if Forward Air is required to close on a merger with Omni Logistics, or if Omni breached the deal agreement as alleged.

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17 January
Todd Maiden

Prologis sees occupancy dipping through Q2 before sustained rebound

Logistics real estate operator Prologis’ 2024 outlook calls for relative softness in the market during the first half of the year before rebounding.

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Todd Maiden

PS Logistics acquires flatbed segment from ELS

PS Logistics announced its second deal of the year, acquiring the flatbed operation of North Carolina-based ELS.

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Todd Maiden

Late-December swoon has analysts cutting Q4 estimates again

Equities analysts have trimmed fourth-quarter truckload estimates again after the industry limped through the final days of the year.

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Todd Maiden

Prologis’ Q4 results in line with analysts’ expectations

Warehouse operator Prologis reported in-line fourth-quarter results and full-year 2024 guidance.

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16 January
Todd Maiden

Former Kansas City Southern chief joins J.B. Hunt’s board

J.B. Hunt announced it has added former railroad executive Patrick Ottensmeyer to its board.

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Todd Maiden

Truckload linehaul rates stabilizing, Cass report shows

December data from Cass Information Systems shows further rate stabilization, albeit at depressed levels.

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12 January
Todd Maiden

Court OKs second Yellow terminal sale; liquidation only half complete

Yellow’s estate is roughly halfway through the liquidation of more than 300 terminals, a court order showed Friday.

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10 January
Todd Maiden

Werner Enterprises taps new president from within

Werner Enterprises said Wednesday that Nathan Meisgeier, its chief legal officer, has also assumed the role of president of the company.

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09 January
Todd Maiden

PS Logistics acquires flatbed, dedicated hauler Buddy Moore Trucking

PS Logistics’ latest acquisition adds several hundred trucks to its Southeast operations.

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08 January
Todd Maiden

Morgan Stanley sees inventory restock producing freight upcycle soon

Morgan Stanley told investors on Monday that a rebound in freight demand may happen sooner than many are expecting as inventories need to be rebuilt.

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Todd Maiden

Pitt Ohio expands next-day service in New England

Less-than-truckload carrier Pitt Ohio announced the expansion of its New England service on Monday.

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04 January
Todd Maiden

Kenco acquires Dallas-based warehousing company

Chattanooga, Tennessee-based 3PL Kenco announced Thursday it has acquired third-party warehousing services provider The Shippers Group.

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02 January
Todd Maiden

Transportation capacity up again in December, prices fall faster

The Logistics Managers’ Index report showed transportation metrics worsened again in December but noted recent inventory cuts could put the freight cycle back on track in 2024.

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Dec - 2023 -
29 December
Todd Maiden

2023’s most notable deals in trucking

2023 brought two large truckload acquisitions, several less-than-truckload carriers picking through a bankrupt carrier’s assets and no resolution to a $3.2 billion merger attempt, among other transactions.

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28 December
Todd Maiden

Omni alleges Forward CEO withheld, destroyed requested docs

Counsel for Omni Logistics claims Forward Air’s CEO withheld requested notes from board meetings discussing plans to avoid a merger between the companies.

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22 December
Todd Maiden

TFI buying Daseke for $1.1B, contemplating spinoff of truckload unit

TFI International entered an agreement to acquire flatbed carrier Daseke and said it’s exploring a spinoff of its truckload business.

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20 December
Todd Maiden

Auction moves 2nd lot of Yellow terminals

A Delaware bankruptcy court filing on Wednesday showed the results from a second auction of Yellow’s service centers.

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Todd Maiden

Forward Air sells final-mile unit to Hub Group for $262M

Forward Air said Wednesday it sold its final-mile business, but it provided no update on the status of a merger with Omni Logistics.

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19 December
Todd Maiden

BWT Logistics acquires International Express Trucking

BWT Logistics announces it has acquired North Carolina-based regional 3PL International Express Trucking

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14 December
Todd Maiden

Freight cycle bottom continues to form in November

Data from the November Cass Freight Index shows both shipments and expenditures remained pressured.

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13 December
Todd Maiden

Heavy haulers Reinsfelder, Brownlee join forces

Two Western Pennsylvania-based carriers combine their fleets to better serve the heavy-haul and specialized truck freight markets.

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Todd Maiden

Trucking fundamentals unlikely changed in first half of 2024, Hutto says

Brent Hutto from Truckstop.com talks about expectations for the spot market at FreightWaves’ Domestic Supply Chain Summit.

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12 December
Todd Maiden

XPO ready to deploy 28 new service centers

XPO said Tuesday it’s excited about a “once-in-a-generation” terminal acquisition that will facilitate the next decade of growth.

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Todd Maiden

Investment firm ITE acquires majority stake in chassis lessor, Trend

ITE Management said Tuesday it has acquired a majority stake in intermodal chassis lessor Trend.

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11 December
Todd Maiden

Forward Air plans 5.9% general rate increase

Forward Air announced a 5.9% general rate increase for 2024 that is near the middle of the range of recent carrier announcements.

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07 December
Todd Maiden

Yellow shoots down going concern bid to revive company

Yellow Corp. has reportedly rejected a bid that would resurrect the company from bankruptcy.

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06 December
Todd Maiden

Forward Air’s tonnage inflects further upward in Q4

Forward Air reports positive tonnage trends for the first two months of the fourth quarter.

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05 December
Todd Maiden

Old Dominion reports muted November

Less-than-truckload carrier Old Dominion Freight Line reports muted volume trends for November.

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Todd Maiden

Descartes reports record results in Q3 of FY 2024

Software-as-a-service provider Descartes reported record quarterly results Tuesday and said the market is ripe for M&A.

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Todd Maiden

ArcBest’s November tonnage dips further, yields up

ArcBest said tonnage declines in November were tied to efforts to unwind dynamic pricing initiatives.

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Todd Maiden

Transportation capacity grows faster in November, prices continue to slide

Weak transportation metrics were noted in a monthly survey of supply chain executives.

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Todd Maiden

XPO’s November shipment increase needed to fill 28 new terminals

Less-than-truckload carrier XPO reported higher shipments in November one day after it was announced to have the largest winning bid at Yellow’s terminal auction.

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04 December
Todd Maiden

First wave of Yellow terminals will go for $1.9B; sale process ongoing

A Delaware bankruptcy court filing shows several prominent less-than-truckload carriers hold $1.9 billion in winning bids for 130 of Yellow’s terminals.

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Todd Maiden

Landstar CEO Jim Gattoni to retire

Broker Landstar System announced Monday after the market closed that its CEO Jim Gattoni will be stepping down early next year.

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Todd Maiden

Colonial Terminals acquires Cape Fear bulk liquid facility

Colonial Terminals announced the acquisition of a bulk liquid terminal from Buckeye Terminals.

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Todd Maiden

Saia holds on to Yellow’s freight

Saia’s fourth-quarter update shows it is retaining the freight it onboarded as a result of Yellow’s collapse.

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01 December
Todd Maiden

Auction for Yellow’s terminals ‘remains ongoing’

A filing in a Delaware bankruptcy court said the auction for Yellow’s terminals is ongoing and that winning bids may not be revealed until Tuesday.

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Nov - 2023 -
28 November
Todd Maiden

Lineage Logistics reported to be pursuing $30B-plus IPO

Cold storage and logistics provider Lineage Logistics is working on an initial public offering that will value the company at more than $30 billion, Bloomberg reported Tuesday.

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22 November
Todd Maiden

Forward Air, Omni pointing fingers over EBITDA forecasts

A recent exchange of filings in a Delaware court shows Forward Air and Omni Logistics are at odds over Omni’s 2023 financial forecasts, among other things.

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17 November
Todd Maiden

Forward Air investor claims harassment by Omni after merger pushback

An open letter from activist investor Ancora says the firm has come under attack following its public disapproval of Forward’s merger proposal with Omni Logistics.

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15 November
Todd Maiden

Trucking heads kick can further into 2024

Trucking industry leaders said at an investor conference that the weak truckload fundamentals seen in the third quarter have continued through the fourth.

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Todd Maiden

Lazer Logistics’ latest deal adds yard management tech to network

Lazer Logistics plans to roll out a recently acquired yard management technology across its network of more than 600 locations.

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14 November
Todd Maiden

Forward Air’s new long-term targets don’t include Omni

Forward Air provided long-term financial targets on Tuesday and said the outcome of its bid for Omni Logistics may not be decided until next year.

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Todd Maiden

October shipments hit cycle low, Cass says

October freight data from Cass Information Systems showed continued softness into peak season.

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13 November
Todd Maiden

Final-mile forwarder Riverstone Logistics acquires Ralph’s Transfer

Final-mile delivery company Riverstone Logistics said Monday it has acquired appliance delivery company Ralph’s Transfer.

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Todd Maiden

Annual LTL GRIs slightly ahead of schedule

Old Dominion Freight Line was the latest less-than-truckload carrier to announce an early general rate increase for the new year.

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Todd Maiden

Forward files counterclaim against Omni, seeks path out of merger

Forward Air has filed a counterclaim against Omni Logistics and wants a Delaware court to rule it’s not obligated to move forward with the merger.

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09 November
Todd Maiden

Daseke seeing ‘flight to safety’ as competitors exit

Flatbed carrier Daseke reported an in-line third-quarter result Thursday but reduced its full-year guidance.

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08 November
Todd Maiden

Ramp in transportation capacity slows in October, report says

Supply chain metrics for October showed fundamentals for transportation providers may be improving.

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07 November
Todd Maiden

RXO expands through the downcycle

Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.

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